With the help of a munificent donation from the late Shri M. P. Shah, a great charitable person, aptly called the Bhamasha of Saurashtra, the M. P. Shah Commerce College was established in 1961.
The corner stone of the building was laid by Shri Morarjeebhai Desai, the then Union Finance Minister, and the building was declared open by Shri Jivrajbhai Mehta,the then Chief Minister of Gujarat. The Jamnagar Municipality also helped financially towards the construction of the building.
On 15th August, 1947, when the British India saw the dawn of freedom, Saurashtra was still slumbering. Jamnagar was one of the 202 native states of the region ruled over by native princes. We here, were backward (in every respect and the main cause of our backwardness) was lack of proper educational facilities.
Although Jamnagar was one of the front line states, it had 3 high schools only. The number of primary schools also was very small.
It was quite natural that the first task the popular rulers of the newly formed state of Saurashtra and the leading citizens placed before themselves was the spread of education.